This script is a version of the Ichimoku Cloud indicator, which has its default settings optimized for Cryptocurrency trading. (20 Period Tenkan, 60 Period Kijun, 120 Period Senkou A, 30 Period Senkou B, 30 Period Offset/Displacement).
This script contains shape-plots and alert conditions for the following events: - Bullish Entry into Red Kumo Cloud (Long Signal) - Bearish Entry into Green Kumo Cloud (Short Signal) - Edge-To-Edge(E2E) Completion on either type of Cloud (Possible Reversal Signal) - Red & Green Kumo Cloud Breakout (Long or Continuing Long Signal) - Kumo Cloud Support Breakdown, Top and Bottom of Cloud (Short Signal) - Kumo Cloud Potential Bounce and Rejection - Tenkan/Kijun Crossup/Down
Some things to note: - Using short timeframes can cause certain alerts to fire many times, such as an E2E detection in a very thin cloud, or short/breakout when price is back-and-fourth at the edge of a cloud. - The shapes are mostly there to provide a way to backtest when alerts would be triggered. They can be turned off in the settings if they become obnoxious and fill the screen with clutter.
At the time of releasing this script, the strategy version of this is still in development, but should be similarly released relatively soon. This indicator version of the script is intended for alerts, notifications, bot calls, and just general visual analysis of price action.